Susan Frey

Hi,

I'm the person with the question. I'm actually thinking about buying a condo for my son who has rented in Spokane for three years, is going to school there now, and seems likely to settle there for a while. We're going to be helping him with costs while he attends college, he has to move from his current rental, and I was thinking that it might make more sense to invest rather than spend the money on rent. I live in the San Francisco Bay Area so prices look good to me, and I'm worried that I will be taken advantage of because I'm not aware of what is a good deal. He is clear on the neighborhoods he likes and is quite handy on repairs, etc., so I think he can make good decisions about location and whether the place looks in good shape. But neither he nor I can really determine what a fair price is. Also, he mentioned that condos aren't as common in Spokane and he believes not as popular as in California. I have asked about how long ones we have considered have been on the market. One that was very reasonable and well located was a co-op, but that seemed like a can of worms. It had been on the market for about four months. Does anyone know how hard it is to unload a condo that is reasonably well located (99204 zip code--kind of near downtown and the hospitals and South Hill). If he were willing, I'd rather invest in a house, but he doesn't want the upkeep responsibilities. From looking at these answers and talking to a realtor we have contacted, I'm getting the impression that Spokane (especially the condo market) might well be flattening out. I'm not looking to make a big profit. I just want a secure place for my son, a tax write-off, and for prices to rise enough so that if I have to sell in three years, I won't lose money. By the way, I live in San Jose, not Mission San Jose. - Tue May 6 2008, 16:11